3178 North Capitol Avenue

Indianapolis, IN 46208

$399,999
Price
Beds
Baths
2,200 Sq. Ft.
$182 / Sq. Ft.
2,200
Sq. Ft.
$182
per Sq. Ft.

Description

Charming quintuple multi-unit property! A prime investment property! Take a look at this well-maintained 5 unit-property, a fantastic opportunity for both investors and homeowners looking to generate rental income. Each of the five units offers spacious living with a comfortable living room, bedroom, and kitchen, along with separate entries for added convenience, safety and privacy. The property features several key updates, including new roof, windows, doors, electrical/plumbing, water heater and...Charming quintuple multi-unit property! A prime investment property! Take a look at this well-maintained 5 unit-property, a fantastic opportunity for both investors and homeowners looking to generate rental income. Each of the five units offers spacious living with a comfortable living room, bedroom, and kitchen, along with separate entries for added convenience, safety and privacy. The property features several key updates, including new roof, windows, doors, electrical/plumbing, water heater and electric baseboard heating system all completed in 2022. Freshly painted interior creates a bright and inviting atmosphere- perfect for the renter's ambiance! With its attractive curb appeal, this property is sure to catch the eye of both tenants and visitors, Ideal for those looking to invest in a high demand rental property or offset living expenses. With each unit currently leased at $1000 per month (effective 1/4/25), the property promises a steady stream of income with a great CAP rate (10.95%)! With its prime location, low-maintenance and excellent rental income, this property is a rare find in Indianapolis. Don't miss out on this great opportunity.
  1. Listed by Mark Harris • CENTURY 21 Scheetz • mharris@c21scheetz.com

Property Details for 3178 North Capitol Avenue

Architectural Style
TraditonalAmerican
Township
Center
Waterfront
No
Zoning
D-8
LISTING UPDATED: 02/11/2025 09:43 AM

Property Details for 3178 North Capitol Avenue

StatusPending
MLS #22017010
Days on Market32
Taxes$293 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi-Family 5+
Year Built1925
Lot Size0.12 AC / 5,227 SF
CountyMarion County

Virtual Tour

Building Information for 3178 North Capitol Avenue

Stories1Residences5Year Built1925Building Size-Lot Size0.12 AC / 5,227 SF

Property Information for 3178 North Capitol Avenue

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46208
  • Postal Code Plus4: 4626
  • State Or Province: IN
  • View: Yes
Taxes and HOA Information
  • Parcel Number: 490623143100000101
  • Semi Annual Property Tax Amt: 293
  • Tax Exemption: None
  • Tax Year: 2023
  • TaxLot: 49-06-23-143-100.000-101
  • Tax Block: TOPPS GARDEN PLACE ADDL61 B3
School Information
  • Middle Or Junior School: Northwest Community Middle School
  • School District: Indianapolis Public Schools
Parking
  • Garage Spaces: 1.0
Virtual Tour
Property
Lot Information
  • Acreage: <1/4 Acre
  • Current Use: Residential
  • Lot Description: Corner Lot, Curbs, Sidewalks, Street Lights
  • Lot Size Square Feet: 5271.0
  • Lot Size Acres: 0.12
  • New Construction: False
  • Stories: 1
  • Possible Use: Apt<20
  • Space Available: 5
  • Structure Type: Triplex
  • Sq Ft Total: 2200.0
  • Year Renovated: 2024
  • Year Built Numeric: 1925
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: No
  • Divisible: No
  • DPRYN: No
  • Inspection Warranties: General
  • Legal Subdivision: Topps Garden Place Add L61 B3
  • Photos Count: 18
  • Property Attached: No
  • Property Sub Type: Multi-Family 5+
  • Property Type: Commercial Sale
  • Transaction Type: Sale
Green Features
  • Green Certification: No
Utilities
  • Building Utilities: Municipal Storm Connected,Separate Gas Meter
  • Electric: 100 Amp Service
  • Solid Waste: Yes
  • Sprinkler: None
  • Utilities: Cable Available, Electricity Connected, Gas Nearby, Gas
  • Operating Expense: 15612.0
Interior and Exterior Features
Exterior Features
  • Construction Materials: Aluminum Siding
  • Roof: Asphalt, Shingle
Interior Features
  • Basement Description: Unfinished
  • Basement YN: Yes
  • Cooling: Central Electric
  • Heating: Forced Air, Gas
  • Levels: One
Multi Family
Multi-Family Information
  • Total Units: 5
  • Garage Parking: 1 Car Garage, On Street
Income & Expenses
  • Expenses: 60000
  • Net Operating Income: $44,388.00
Unit 1
  • Unit Kitchen: 11x9
  • Unit Levels: 1
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 1 Bedroom
Unit 2
  • Unit Kitchen: 11x9
  • Unit Levels: 1
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 1 Bedroom
Unit 3
  • Unit Kitchen: 11x9
  • Unit Levels: 1
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 1 Bedroom
Unit 4
  • Unit Kitchen: 11x9
  • Unit Levels: 1
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 1 Bedroom
Unit 5
  • Unit Kitchen: 11x9
  • Unit Levels: 1
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 1 Bedroom
Rental
Rental Information
  • Multi Tenants: Yes
  • Tenant Pays: All Utilities

Property History for 3178 North Capitol Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3178 North Capitol Avenue

Taxable ValueLand$16,000Additions$8,700Total$24,700
Tax Record2023$586 ($49 / month)
Home Facts
Total Finished SqFt2,200 SqFtAbove Grade Finished SqFt2,200 SqFtStories1Lot Size5,271 SqFtStyleTriplexYear Built1925ZoningZO01CountyMARIONAPN49-06-23-143-100.000-101

Schools near 3178 North Capitol Avenue

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Elder W. Diggs School 42
PublicPK to 6

Northwest Community High School (7-8)
Public7 to 8

Arsenal Technical High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CENTURY 21 Scheetz

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.